PETROGAS GROUP UK LIMITED

Company number: 05952225

Reporting period:
1 July 2020 to 31 December 2020

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This report was filed on 15 March 2022

and approved by Niall Dolan

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 23%
• in 31 to 60 days: 69%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 37%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

60 days

Standard payment terms

30 Days

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

we use Purchase order system for all the suppliers other than Councils and Rent. No PO on invoice, the invoice will not be processed. If the price agrees and items on the invoice agree to the purchase order, the invoice is passed for payment, if not the invoice is highlighted and communicated back through email, to the supplier and a revision to the invoice is required. in some cases this is a credit note or revision to the invoice vs what has been delivered.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No, this business has not signed up to a code of conduct or standards on payment practices.

Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

Yes

Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

Yes

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

Yes

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No